Global Electric Vehicle Busbars Market Is Expected To Grow From Us$1,100.63 Million In 2022
Electric vehicle (EV) busbars are essential components of EV power systems. They are conductive bars that provide a pathway for electricity to flow between the battery, motor, and other electrical components of the vehicle. The busbars are typically made of copper or aluminum and are designed to withstand high temperatures and electrical currents. Because electric vehicles require high levels of power to operate, the busbars must be able to handle significant amounts of electrical current without overheating or melting. As EV technology continues to advance, busbars are becoming increasingly important in ensuring the safe and efficient operation of electric vehicles.
The space-saving design of busbars is particularly important in electric vehicles where every inch of space matters. Their flat, rigid structure allows for automatic assembly, which streamlines manufacturing and reduces production costs. Furthermore, their strip shape can carry more current than cables with the same cross-sectional area, leading to more efficient power distribution.
Electric Vehicle Busbars are widely used as interconnects between battery modules in modern EVs. As busbars are increasingly used beyond the battery, OEMs must carefully consider their design decisions to ensure the overall effectiveness of their electrical/electronic architecture. This includes determining whether to use busbars, where to place them, how to connect them to other components, and where to add shielding or flexibility.
Global key Electric Vehicle Busbars players include Intercable Automotive Solutions (Aptiv), Everwin Technology, BSB Technology Development, and Rogers Corporation, among others. The two largest companies in terms of revenue accounted for nearly 43.02% of the market share in 2022.
According to our Research, global Electric Vehicle Busbars market is expected to grow from US$1,100.63 million in 2022 to US$4,456.18 million in 2029, at a CAGR of 20.82% from 2023 to 2029.
